London Tech Week 2023: Uniting global tech to drive sustainable innovation
This June, we and thousands of professionals once again descended on London for the capital's annual Tech Week event. It marked the tenth anniversary of the festival and saw 20,000 participants and 300 speakers take over all seven floors of the Queen Elizabeth II Centre as part of a five-day programme between June 12th and 16th.
As well as allowing professionals insight into some of the industry's biggest trends and innovations, the event showcased how tech is transforming business and society.
In addition to the learning sessions and keynote speeches, there were also more than 45 fringe events, as well as a full social calendar for attendees to unwind and network at the same time, making it a must-visit for any keen tech pro in the capital.
Why London remains a thriving hub for global tech growth
The ongoing success of the event highlights London's great position as Europe's leading hub for innovation. The capital is home to thousands of tech firms, ranging from exciting start-ups and fast-growing 'unicorns' to world-leading brands.
Of course, almost all the big names have a presence in London, and why wouldn't they? With easy access to global markets, a large, highly educated workforce and a vibrant culture for both business and leisure, the attractions for enterprises are huge.
According to one recent survey by Dealroom, London is the top tech ecosystem outside the US, when taking into account factors such as early, breakout and late stage funding, university talent, patents and $1 billion valuations. It performed particularly strongly for early-stage capital, making it the best place in Europe to get a tech firm off the ground.
What tech have London companies been responsible for?
The capital is particularly big when it comes to fintech, with unicorn companies such as Revolut, Monzo, Blockchain.com, OakNorth and SumUp just a few of those whose innovations have attracted major investment in recent years.
On top of these, there are food service apps like Deliveroo and Gousto, communications firms such as Inmarsat and online car buying service Cazoo, to name just a few.
But beyond these proven success stories, London is still a hotbed of startup activity. Among some of the most promising businesses include AI firms like Cleo and Signal AI, robotics experts Oxbotica and Automata and VR companies such as Improbable.
What have we seen come to fruition from London Tech Week before?
Over the last ten years, London Tech Week has helped many tech firms get noticed and grow their business. As a showcase for attracting investment and boosting talent, there are few better places to be and the stats back this up.
At last year's event, figures were presented showing $15.6 billion was invested in the UK tech sector in 2022, with $11.3 billion of this going to London. The city also ranks second globally for tech salaries compared with cost of living, with average annual pay of £75,278. What's more, tech vacancies provide a salary premium of 65 per cent over non-tech jobs.
London Tech Week's role in shining a light on innovation and stimulating excitement for the sector can't be understated, as evidenced by the fact it's still going strong after a decade.
What did we see at the 2023 event?
For the 2023 edition, there were a few key items up for discussion, with one of the biggest topics being sustainability. This covered everything from addressing climate change and the latest innovations in healthcare technology to asking what more can be done to boost diversity within the workforce, from ensuring the right mix of skills to supporting entrepreneurship.
Also on the agenda were sessions that highlighted some of the next frontiers in tech and digital transformation. These included topics such as the evolution of Web3, the metaverse, and how to bridge the gap between science and technology.
A dedicated AI Summit was also part of this, offering opportunities to mix with some of the world's most forward-thinking technologists and innovators in this space to explore how AI can be applied to real-world issues.
The third major theme was the future of the UK's tech ecosystem and what needs to be done to build a resilient industry that can not only grow, but thrive. London Tech Week has already proven adept at supporting this, so the 2023 event was another great opportunity to gain fascinating insights for anyone looking to get ahead in their tech career in the capital.
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